Arriyadh Development major shareholders seek to distribute SAR 0.5/share from retained earnings

Logo of Arriyadh Development Co. (ARDCO)

Arriyadh Development Co. (ARDCO) said it received a letter, on June 1, from seven shareholders who constitute more than 5% of the company’s capital, with a request to vote on distributing an amount of SAR 88.89 million at SAR 0.5 per share from the balance of retained earnings.

This item will be added for voting at the next general assembly, the date for which will be announced later, the company said in a bourse statement.

According to data compiled by Argaam, ARDCO distributed SAR 1.5 per share cash dividend for 2021.